China stocks are mixed at midday as investors take profits on A-shares

Redacción de Reuters

3 MIN. DE LECTURA

* CSI300 -1.3 pct; SSEC -1.0 pct; HSI +1.0 pct

SHANGHAI, Nov 12 (Reuters) - China stocks were mixed on Thursday as profit taking on financial stocks weighed on domestic indices for the third day in a row, but Hong Kong continued to receive a lift from mobile technology stocks.

The CSI300 index fell 1.3 percent, to 3,782.72 points at the end of the morning session, while the Shanghai Composite Index lost 1.0 percent, to 3,613.71 points.

Traders say shares in the CSI300 financial sub-index , which gained 14 percent from November 3 to November 9, are under pressure now as investors take profits.

Stocks last week returned their best performance since June, in part due to expectations of an upcoming connect scheme for trading between the Hong Kong and Shenzhen stock markets that could boost transaction volume for stocks and revenues for securities firms.

China CSI300 stock index futures for November fell 1.5 percent, to 3,730.4, -52.32 points below the current value of the underlying index.

Hong Kong shares once again received a lift from mobile technology shares led by Tencent, the Chinese social media and internet technology giant, which posted third quarter earnings above expectations Tuesday evening.

Tencent was up for the second day in a row, bringing the two day gain to 2.3 percent by Thursday at noon.